Jim Cramer · Goldman Sachs · Wall Street · CNBC Technology
Cramer confirms 'frozen' conditions are holding many stocks back
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
◌ Single Source
CNBC's Jim Cramer said Wednesday that investors shouldn't jump ship despite signs of slowing activity across key parts of the economy.
Key facts
- The nearly 7.5% mortgage has made housing the least affordable it's been in 40 years," Cramer said
- Shares of Morgan Stanley and Goldman Sachs, the premier investment banks on Wall Street, both declined roughly 12% in the month of September and set their highs for the year in July
- Cramer's Charitable Trust, the portfolio run by the CNBC Investing Club, owns shares of Home Depot
- The slowdown has rippled across housing-related stocks, including homebuilders Lennar and KB Home and retailers Home Depot and Lowe's, both of which hit fresh 52-week lows on Wednesday
Summary
Cramer's comments come as high interest rates, geopolitical uncertainty and political opposition weigh on stocks across industries. "Market after market is getting frozen right now and that's killing stocks," the " Mad Money " host said. "The nearly 7.5% mortgage has made housing the least affordable it's been in 40 years," Cramer said. The slowdown has rippled across housing-related stocks, including homebuilders Lennar and KB Home and retailers Home Depot and Lowe's, both of which hit fresh 52-week lows on Wednesday.